PNC’s retail banking chief details 300 branch expansion with strategic focus on market density

Build it and they will come just isn’t enough. PNC, embarking on an even more ambitious branch expansion, is aiming for market density in its quest to be a highly relevant leading player in the increasingly competitive hottest metros in the county.

“There are 9,000 banks and credit unions, and you’ve got five to six at most that are really building in the way we are,” Alex Overstrom, PNC’s executive vice president and head of retail banking, explained. “But we’re not just competing with the mega banks. We’re competing with everyone in the market, and our opportunity is to take share from the broader set of banks out there.”

PNC announced on Nov. 7 that it was increasing its new branch builds by 100 to 300 by 2030 and its investment from $1.5 billion to $2 billion. It was the second such upward revision since PNC’s original plan of 100 with a $1 billion spend was revealed in February 2024 and was upped to 200 and $1.5 billion in November 2024.

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